The AlwaysOn X Fund portfolio advanced 2.4% for the week, while the NASDAQ, and the S&P 500 were basically flat at -0.1% and +0.1%, respectively. Year to date, the AO X Fund is up 10.2%, the NASDAQ is up 5.7%, and the S&P 500 is up 6.6%.
Real estate online marketplace leader Trulia surged nearly 42% for the week after reporting strong Q4 results; it was also boosted by its competitor’s (Zillow) strong earnings. TRLA grew revenue +75%, monthly unique users were up 50% at 23.6 million, and its mobile uniques grew 119% to 5.8 million. New contributer-generated content increased 84% to 840,000. Also impressive, media revenue, which makes up 33%, increased 51%. We added 1% to our existing position on the strong growth prospects.
High-end fashion retailer Michael Kors had another spectacular quarter, significantly beating expectations. KORS Q4 revenue grew 70%, driven by +41.4% same-store sales growth; EPS was up 129%. Total store count is now at 297, with 66 net new store openings in Q4. KORS guided Q1 same-store sales growth to be in the mid 20s with 38% revenue growth, above previous expectations. For the week, KORS advanced 10.8%.
Alexion Pharmaceuticals beat analysts expectations, posting 41% revenue growth and 46% EPS growth in Q4. While we continue to be bullish on ALXN fundamentally, we trimmed 1% of our position. For the week, ALXN finished down 8.2%.
Additionally, we trimmed 3D Systems down to 1%, as the stock has been significantly outperforming, up 313% since the beginning of 2012, and is trading at a high valuation vs. its growth rate. For the week, DDD finished down 11.1%.
We also sold our entire position in Rackspace after somewhat disapointing Q4 results and increased our Facebook position by 2%.
Michael Moe is an AlwaysOn contributing editor and a former co-founder of ThinkEquity.